Gold scrap business
Did you know that you can make money out of scrap gold? If you didn't, you have come to the right place to gain more information on how you can make profit from buying scrap gold and then selling it on at a later date. If you were already aware of this information, then you will find this site an invaluable resource in your search for scrap gold. Think gold coins, bars, nuggets, ingots, and all things that contain gold. Unlike currency, gold retains its value and in fact gains value as time passes. As we face this global credit crunch, the wise investor keeps at least 10% savings in the form of gold bullion.
Contrary to what many people believe – i.e. that old broken jewelry is of no value and tend to leave it lying around or even discard it, this jewelry does have value in its weight in gold or 'scrap gold'. You can sell your old or broken jewelry and also purchase scrap gold pieces which can be found in sources such as jewelry and even from computer parts to make profit from it.
It is important to be aware of the carat densities of gold, which run from 8 through to 24, with 8 carat being gold with most impurities (most concentration of other metals) and 24 carat being pure gold with virtually no impurities (virtually no trace of other metals). Regardless of whether you are purchasing scrap gold or selling your old jewelry, being aware of the carat densities of gold is important. Apart from the carat densities of gold, you will also have to be aware of the daily price change.
Knowing how much your gold is worth (if you are selling it) and how much the price of gold is (if you are purchasing gold) will save you the trouble of getting tricked by not-so-honest dealers. Also, most dealers keep their calculation formulas secret. You can find the price of gold for any particular day on the internet or on the newspaper. A troy ounce of gold is the equivalent to 31.1 grams of gold and the price will be £X per troy ounce. You can see the current value of gold per troy ounce in the table to the left.
The price you will be paying (when purchasing scrap gold or brand new gold pieces) and the amount you will be getting (when selling your broken or unwanted gold pieces) will depend on factors such as the carat densities of gold, the price of gold at the time you are selling or buying it, as well as the weight of gold in grams.
Select from the categories on the right to find cheap scrap gold.